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NACCIMA Seeks Improvement, Honesty In Product Manufacturing

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L-R: Former Chairman, Board of Directors, Financial Market Dealers Quotation (FMDQ) OTC Plc, Aigboje Aig-Imoukhuede, Group Managing Director, Uba Group, Phillip Oduoza, Director-General, Debt Management Office, Dr Abraham Nwankwo, Managing Director of Fmdq, Bola Onadele Koko and Chief Executive Officer, Chapel Hill Advisory Partners Ltd, Bolaji Balogun, at the bond listing of the Federal Government on FMFQ platform in Lagos, on Monday.

L-R: Former Chairman, Board of Directors, Financial Market Dealers Quotation (FMDQ) OTC Plc, Aigboje Aig-Imoukhuede, Group Managing Director, Uba Group, Phillip Oduoza, Director-General, Debt Management Office, Dr Abraham Nwankwo, Managing Director of Fmdq, Bola Onadele Koko and Chief Executive Officer, Chapel Hill Advisory Partners Ltd, Bolaji Balogun, at the bond listing of the Federal Government on FMFQ platform in Lagos, on Monday.

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), has urged Nigerian manufacturers to improve and be honest in the manufacturing of products.
In a statement  in Lagos, yesterday, Mr Emmanuel Cobham, Director-General of the association, reiterated that improved products would translate to the development of the sector.
Cobham said that improved products would guarantee efficiency of their operations, societal benefit and overall development of the economy.
He said, “If products can be made to standout, the customers will appreciate it because the customers like good quality products.
“Most customers are willing to pay the difference to get value for their money in the goods they purchase.
If we pride ourselves as being a big economy and a key player in the world, then we expect that products from our country should meet international standards.’’
He said almost two million new cars were sold every month in China, despite its economic slowdown and the demand for China cars was also strong in Europe.
“There was a time when the world depended on German and Japanese products but from this figure, it shows that China has been able to perfect its act.
“They did it to show others that it is feasible and this is good for their economy.
“What is Dubai trading in? Honesty, top standard production and they make sure that only the best comes in. Things like religion and sentiment do not interfere in their product quality specifications.
“There is a referral point that everyone adheres to which brings a turnaround in their economy,” Cobham said.
The DG urged the manufacturers to establish necessary mechanisms that would facilitate growth in the manufacturing sector, as well as the national economy.
He reminded manufacturers that attention had shifted to the patronage of locally-produced goods, as an alternative to imported goods, for job creation, economic development and sectoralý growth.
Cobham argued that if locally produced goods are of good quality, buyers would willingly change their taste preferences for imported goods and embrace made-in-Nigeria products.
The DG alleged that corruption was the bane of the fight against substandard goods, as most producers had shunned standards for quick riches, at the expense of buyers.
He urged the relevant government agencies to ensure substandard goods were removed from circulation.

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MoneyPoint Empowers Pharmacists With Payment Solutions 

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MoniePoint Inc. a digital financial firm in Nigeria, has said it is empowering community pharmacists across the country with innovative payment solutions to improve access to drugs.
The financial firm said it had also provided loans for pharmacists under the aegis of the Association of Community Pharmacists of Nigeria (ACPN) to drive healthcare delivery in the country.
MoniePoint in a release titled, “Inside Nigeria’s community pharmacies: How Moniepoint drives healthcare access with payments and funding”, has reaffirmed its commitment to providing digital payment solutions to improve health outcomes in Nigeria.
The release examined how community pharmacies play a crucial role as vital access points for medical care in Nigeria, especially in areas with limited hospital or clinic access.
According to the release, the ACPN National Chairman, Ambrose Igwekwam, highlighted the critical role played by community pharmacies in Nigeria’s healthcare system over the years.
Igwekwam, however, expressed concerns over the challenges confronting the nation’s pharmaceutical industry which he said was hindering access to affordable medicines.
The pharmacist listed poor infrastructural systems, power, transportation, regulatory bottlenecks, importation dependency, and limited research opportunities as major challenges facing the pharmaceutical sector.
He also stressed the need for robust collaborative efforts with institutions like Moniepoint to strengthen the sector.
“As Nigeria continues to grow, improving local pharma manufacturing to meet the demands of this growth presents a key opportunity for us all.
“There is also the African Continental Free Trade Area Agreement, which is expected to boost our industry, especially when we start producing our drugs locally, which will provide the much needed foreign exchange from exports.
“We are also seeing advancements in digital health and technology which would hopefully deepen the practice of e-prescription in Nigeria”, the ACPN boss said.

Corlins Walter

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Embrace AI, CIIN Urges Insurance Operators 

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In order to enhance customer service and streamline operations, the Chartered Insurance Institute of Nigeria (CIIN) has called on stakeholders in the insurance industry to embrace Artificial Intelligence (AI).
The President of the institute, Yetunde Ilori, made this call at the 2024 Office Representatives Committee (ORC) Workshop, organised by the institute, with the theme “AI and the Future of the Insurance Industry”, in Lagos.
Ilori at the event, emphasised the importance of AI adoption, noting that it was not a threat to jobs but rather a tool to improve efficiency across the insurance sector.
“It is not about AI taking over our jobs, but about us using AI to simplify processes and give maximum satisfaction to all the customers we serve whether as underwriters, brokers, loss adjusters, or in educating our members”, she said.
The workshop, which brought players in the insurance sector together, aimed to address how AI could be leveraged to transform business processes and improve customer interactions.
The Chairman of the ORC, Monica Nwachukwu, underscored the role of AI in modernising the industry, adding, “AI can automate customer and claims processes, allowing insurers to provide faster and more efficient services to their customers”.
She explained how AI could help extract data from legacy systems, enhancing decision-making processes.
“By integrating AI with APIs, insurers can feed valuable data into AI solutions to improve operations and customer service”, she added.
In his address, the Managing Partner of A4S and Training Heights, Orlando Odejide, stressed the need for companies to align their strategies with future technologies like AI, especially as they prepare for 2025.
“Any organisation that wants to grow into the future must have its strategic plan in place. If your strategy for 2025 is not ready, it should be done by October”, he advised.
He encouraged participants to think critically about how AI could be integrated into their business models to ensure they remain competitive.
“The idea is for you to use this workshop as a platform to think about your organization and how AI can help streamline your processes and improve growth”, Odejide noted.

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NASRDA Reassures On Strengthening Nigeria’s Space Capability 

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In order to gain global respect and recognition, the National Space Research and Development Agency (NASRDA) has reaffirmed its determination to pursue its goal in ensuring that Nigeria’s space capabilities are recognised on the world stage.
The agency also reaffirmed its commitment to positioning Nigeria as a key player in the global space economy.
In a statement by the Director of Media and Corporate Communications, Dr. Felix Ale, NASRDA revealed that the Director-General of the agency, Matthew Adepoju, emphasised this during recent engagements at the 79th United Nations General Assembly and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and Global Alliance Business Association international conference in Michigan, United States.
The statement noted that Adepoju outlined a forward-thinking agenda, stressing the importance of Nigeria’s space programme as a leader in research, exploration, and technological innovation.
“Our goal is to ensure that Nigeria’s space capabilities are recognised on the world stage.
“We must foster collaborations with global space agencies to enhance our satellite capabilities and technological infrastructure”, he stated.
The NASRDA boss said the agency is focusing on enhancing satellite capabilities, expanding international collaborations, and leveraging space science for national development.
He said NASRDA will have no stone unturned in pursuit of excellence, ensuring the agency secures the necessary resources and recognition to propel it forward.
“The relationships we build today will pave the way for tomorrow’s advancements in space science.
“Innovation and progress thrive in an environment built on collaboration and inclusivity”, he stated.
He emphasised that with the support of the government, international partners, and a dedicated team, NASRDA is poised to make significant strides in the evolving global space landscape.
“We are on the brink of a new era for Nigeria’s space agency. Together, we will ensure our nation stands out in the global space economy”, he said.

Corlins Walter

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